Early Briefing: Shareholders OK Satellite Radio Merger

Former FCC Chairman Reed Hundt also gives merger his backing. (By Susan Goldman -- Bloomberg News)

*XM and Sirius shareholders voted to approve the $5 billion merger of the two companies, though it still faces regulatory scrutiny. Also, Reed E. Hundt, who was FCC chairman when XM and Sirius received separate licenses to operate, said he supports the deal. See story

* The Montgomery County Council passed a new growth plan, which increases taxes on builders to help pay for roads and schools and and encourages denser development near public transit to try to absorb an expected influx of newcomers. See story

*RCN, a cable operator in Herndon, said it completed its $255 million cash acquisition of Neon Communications Group. The combined unit will become RCN Metro Optical Networks, RCN said.

By Terri Rupar  |  November 14, 2007; 5:00 AM ET  | Category:  XM Satellite Radio
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